QUALCOMM Incorporated (NASDAQ:QCOM) Stake Increased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,476,901 shares of the wireless technology company’s stock after buying an additional 26,187 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.31% of QUALCOMM worth $588,639,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Logan Capital Management Inc. boosted its position in QUALCOMM by 20.2% during the third quarter. Logan Capital Management Inc. now owns 7,451 shares of the wireless technology company’s stock valued at $828,000 after purchasing an additional 1,252 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of QUALCOMM by 59.2% during the 3rd quarter. Axxcess Wealth Management LLC now owns 27,410 shares of the wireless technology company’s stock valued at $3,044,000 after buying an additional 10,192 shares during the last quarter. Alps Advisors Inc. grew its stake in shares of QUALCOMM by 460.2% in the 3rd quarter. Alps Advisors Inc. now owns 55,261 shares of the wireless technology company’s stock valued at $6,137,000 after buying an additional 45,397 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in QUALCOMM by 3.2% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,109,621 shares of the wireless technology company’s stock worth $123,235,000 after buying an additional 34,700 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its position in QUALCOMM by 0.6% during the third quarter. Evergreen Capital Management LLC now owns 160,973 shares of the wireless technology company’s stock valued at $17,878,000 after acquiring an additional 945 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 1,116 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares in the company, valued at approximately $70,207.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 1,116 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the sale, the chief accounting officer now directly owns 358 shares in the company, valued at approximately $70,207.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,185 shares of company stock valued at $8,456,475. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded up $0.76 during midday trading on Wednesday, reaching $200.92. 689,146 shares of the company’s stock were exchanged, compared to its average volume of 9,253,017. The firm has a market capitalization of $224.23 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.42 and a beta of 1.27. The company’s 50 day simple moving average is $196.62 and its two-hundred day simple moving average is $170.08. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. Equities research analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were paid a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. Barclays increased their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Susquehanna raised their target price on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Canaccord Genuity Group upped their price target on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Robert W. Baird raised their price objective on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.13.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.